Posted on 05/03/2013 8:17:57 PM PDT by 2ndDivisionVet
It turns out, rich people are happier than poor people.
A new Brookings Institution paper finds that people who live in rich countries are more satisfied with their lives than those in poor countries, and rich people within individual countries are happier than their poor neighbors.
That old “money can’t buy happiness” chestnut, formally called Easternlin’s paradox by economists after an influential 1974 study that concluded rich nations are no happier than poor ones, is such an enduring myth because it holds a lot of appeal, said Justin Wolfers, one of the paper’s authors, a nonresident fellow at Brookings and professor of economics and public policy at the University of Michigan.
“I think it’s incredibly comforting to believe in it,” he said. “You can believe that people who live in grinding poverty… are just as happy as you are.”
Previously, some economists predicted that even if greater wealth meant greater happiness, it was only true up to a point. Once you reached a set point of satiation, extra money wouldn’t matter.
“People are good at making the best of what they have. The way we deal with our emotions is quite adaptive,” said Hal Hershfield, an assistant professor of marketing at New York University's Stern School of Business....
(Excerpt) Read more at lifeinc.today.com ...
So capitalism is a good thing? Wow, all those college professors lied. Explains why commies wear grey.
Money cant buy happiness but being broke can make us downright miserable.
I have some retired relatives who with lack of savings (they didnt save money) and poor planning later with expensive health problems added are downright misterable now every bill a challenge, its depressing to see them.
Of course the half glass empty Dem will claim this study proves we need more progressives taxes.
Money doesn’t buy happiness but, it can fund a large research team to study the problem .
/johnny
This is so very obviously true, as we can easily see that with lots of money, we can have true happiness with possessions like titanium straws and red toilet paper.
Money can’t buy happiness but it makes suffering so much easier! ;-D
“Money can’t buy happiness”...that’s what rich people tell poor people so they won’t fell so bad.
Instead of happiness I’d be ok with just a little cherring up.
Money can’t buy happiness but it does provide a sturdy platform from which happiness can be achieved.
(by Led Zeppelin.)
I like this quote as I recall it from Joe Louis, "I don't like money, actually, but it settles my nerves."
Looks expensive.
” I don’t care about losing all the money, it’s losing all the stuff!” - Bernadette Peters in The Jerk.
Money can’t buy happiness but it’ll do till the real thing comes along.
Money can buy food, shelter, transportation, health insurance, internet access, contributions, donations, cooperation, etc. But it might take not having money to know the happiness it can bring.
I have been rich and I have been poor. Rich is better. I have been fat and I have been thin. Thin is better. I have been young and I am getting older. Older is definitely better.
SSSSHHHHHHH! You're not supposed to TELL anybody that.
Our secret is out. Dang it.
And how can I omit... money can buy grand pianos, cool guitars, hot wheels, good single malts, and sticks.
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